Par Pacific (NYSE:PARR) Trading Up 8% - Here's What Happened

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) was up 8% on Thursday . The company traded as high as $31.66 and last traded at $32.22. Approximately 1,761,966 shares traded hands during mid-day trading, an increase of 46% from the average daily volume of 1,207,734 shares. The stock had previously closed at $29.83.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Mizuho lifted their price target on Par Pacific from $18.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Wall Street Zen cut Par Pacific from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. UBS Group reduced their price target on Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Raymond James Financial lifted their price objective on shares of Par Pacific from $25.00 to $30.00 and gave the company an "outperform" rating in a report on Monday, June 30th. Finally, Piper Sandler boosted their price objective on shares of Par Pacific from $21.00 to $26.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $21.96.

Par Pacific Trading Up 4.3%

The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.54 and a current ratio of 1.56. The firm has a fifty day moving average price of $22.12 and a 200 day moving average price of $17.66. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -27.54 and a beta of 1.73.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.94) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.54). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.49 billion. Par Pacific had a negative net margin of 0.77% and a negative return on equity of 5.87%. The business's revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. As a group, equities analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Trading of Par Pacific

Several institutional investors and hedge funds have recently bought and sold shares of PARR. Proficio Capital Partners LLC acquired a new position in shares of Par Pacific during the 4th quarter worth approximately $236,000. US Bancorp DE boosted its position in Par Pacific by 55.7% during the fourth quarter. US Bancorp DE now owns 1,823 shares of the company's stock worth $30,000 after purchasing an additional 652 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Par Pacific by 22.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company's stock valued at $14,902,000 after purchasing an additional 167,594 shares during the last quarter. Amundi raised its position in shares of Par Pacific by 196.8% in the fourth quarter. Amundi now owns 38,751 shares of the company's stock valued at $656,000 after purchasing an additional 25,694 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Par Pacific by 167.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 29,084 shares of the company's stock worth $477,000 after buying an additional 18,224 shares during the last quarter. Institutional investors own 92.15% of the company's stock.

About Par Pacific

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.